XRP Price Projection: Should XRP Be Worth $21.75 Today?
Amonyx (@amonbuy), a well-known figure in the XRP community, recently ignited discussions by claiming that “the minimum price XRP should be right now is $21.75.”
This assertion is based on XRP’s peak BTC-based valuation from May 17, 2017, when it reached 0.00022465 BTC per XRP. Given Bitcoin’s current price of approximately $96,791, this historical ratio suggests that XRP should be priced at $21.75 today.
The Basis for the $21.75 XRP Valuation
Amonyx’s calculation follows this formula:
0.00022465 BTC × 96,791 USD/BTC = 21.75 USD/XRP
This approach assumes that XRP could sustain its highest BTC ratio in today’s market. However, it does not factor in major shifts in market structure, adoption rates, liquidity variations, or Bitcoin’s evolving market dominance over the years.
Crypto Community Reactions and Market Analysis
Amonyx’s post sparked diverse reactions within the crypto space. Some traders argue that XRP remains significantly undervalued, while others consider the projection unrealistic.
- Skepticism: Prometheus (@Prometheus) criticized the valuation, stating, “This is indicative of a dead token whose fan base can’t accept its fate or adapt to the changes.” This sentiment reflects doubts about XRP’s long-term viability.
- Market Cap Concerns: ConsciousnessHub (@ConsciousnessHub) countered by suggesting that while XRP isn’t a “dead token,” it is “overhyped.” He pointed out that “for XRP to reach $20, it would require billions of dollars in new investment, which is unlikely in the next five years.” His statement underscores concerns regarding XRP’s high circulating supply and the vast capital inflow needed to drive such a price surge.
Can XRP Reach $21.75? Key Factors to Consider
While Amonyx’s calculation presents an interesting viewpoint, basing XRP’s value solely on past BTC ratios overlooks crucial market factors. To achieve such a valuation, several key drivers must align:
- Institutional Investment: Large-scale adoption by financial institutions could significantly boost demand.
- Regulatory Clarity: Positive regulatory developments would increase investor confidence.
- Market Liquidity: Higher trading volumes and liquidity would be essential for price stability and growth.
Final Thoughts on XRP’s Valuation
The debate surrounding XRP’s price potential remains active within the crypto community. Some traders see it as undervalued with strong future potential, while others believe its large supply and current market conditions make such price targets unrealistic in the near term.
Regardless of differing opinions, XRP continues to be a major topic in cryptocurrency discussions, with investors closely watching market developments.
Disclaimer: This article is for informational purposes only and should not be considered financial advice. The opinions expressed are those of the author and do not represent the views of Times Tabloid. Investors should conduct thorough research before making financial decisions. Times Tabloid is not responsible for any investment outcomes.
